PM Modi Inaugurates Asia’s Largest Solar Power Project, Positions India As Most Attractive Market For Clean Energy
Prime Minister Narendra Modi today dedicated Asia’s largest solar power project, the Rewa solar power project in Madhya Pradesh, to the nation. The new 750 MW Solar Power plant Project has been set up at Rewa, in the state of Madhya Pradesh. PM Modi inaugurated the solar power project by video conferencing.
India has emerged as the most attractive global market for clean energy, Prime Minister Narendra Modi said. Prime Minister also said the state will emerge as a major hub for clean and cheap power in the country. “Solar energy is sure, pure and secure and the country is now among the top five solar power producers in the world,” he said.
The Solar Power project in Rewa consists of three solar power generating units, each having a capacity of 250 MW and each located on a 500 hectare plot of land, which is situated inside a Solar Park.
This Solar Park has been developed over a total area of 1500 hectares, by the Rewa Ultra Mega Solar Limited (RUMSL). RUMSL is a Joint Venture of Solar Energy Corporation of India (SECI) and Madhya Pradesh UrjaVikas Nigam Limited (MPUVN).
This is India’s first such solar project which breaks the grid parity barrier. In comparison to the tariffs of prevailing solar project in early 2017 of around Rs 4.50 per unit, the Solar project in Rewa achieved the first year tariff of Rs 2.97 per unit. Moreover, it showed a tariff escalation of Rs 0.05 per unit over the period 15 years and a levelized rate of Rs 3.30 per unit over a period of 25 years.
This is also the first renewable energy project to supply energy to an institutional customer outside the state. From the project, the Delhi Metro will get 24 per cent of energy, while the remaining 76 per cent of energy being supplied to the state DISCOMs of Madhya Pradesh.